Clive Emson Property Auction
About Clive Emson Land & Property Auctions
Clive Emson Auctioneers were established in 1989 to offer a prominent auction service to government organizations. And private customers, and corporate and individual estate agents.
Clive Emson provides property for purchase across the United Kingdom. Encompassing London, Surrey, East Sussex, West Sussex, West Country, Isle of Wight, Wiltshire, Dorset, Hampshire, Essex, and Kent.
If you’re searching for a house, apartment or any other kind of property. Then Clive Emson may be the perfect choice for your home or property investment.
They auction off property, including commercial, residential and land, via online auctions.
Clive Emson provides an amazing chance to grab a deal through its cutting-edge online auction system.
The firm’s idea is to offer an expert auction service for land and property. Therefore, it does not contend with traditional property agencies, mortgage brokers, insurers, or other elements of the property domain.
Clive Emson provides properties for sale in their auction catalogue. Up to 25,000 copies of the full-colour catalogues for each auction can be obtained by post. And from 850+ estate agency outlets across Southern England.
Additionally, information, catalogues, viewings, and legal papers can be found on their website.
Potential purchasers can obtain advice and data regarding imminent properties. such as estimated prices, reserve costs, or inspection times for properties up for auction.
Clive Emson is conducting business online until the effects of the Coronavirus pandemic have subsided.
A Guide To Clive Emson Auction
What regions does Clive Emson Land & Property Auctions cover?
Clive Emson is a regional auctioneer focusing on the South East. Kent is their largest county and has seen 403 properties auctioned in the last year, making up 46% of their overall activity.
It is advisable to seek out an auction house with a concentrated presence in your locale then if you are planning to put your home up for auction.
Clive Emson Auctions Various Types Of Properties:
Clive Emson specializes in residential properties, which make up 65% of their inventory.
They have a notable role in the sale of commercial property, making up 24% of their offerings.
What price range does Clive Emson specialise in?
The average selling price for residential properties is £183,693.
This is below the national median of £885,527, suggesting they primarily serve the lower end of the market or concentrate on areas with lower property values.
£1m + | 1% |
£500k – £1m | 4% |
£250k – £500k | 23% |
£100k – £250k | 32% |
£1 – £100k | 41% |
Performance Of Clive Emson Auction
Performance is divided into three components: Success Rate, Market Share, and Customer Satisfaction.
Market Share
Clive Emson is ranked 8th among auction houses in England & Wales.
So Over the past year, they sold 643 properties, accounting for 12.4% of the total 5,834 properties sold at auction nationwide.
Success Rate
Clive Emson ranks 12th among auction houses in England & Wales in terms of success rate.
They market 73% of their listings, surpassing the national rate of 66%.
Clive Emson Auction Fees
The Clive Emson assesses a customary auction commission rate of 3% plus VAT.
Clive Emson Commission Fee
Who is responsible for the commission payment?
The Seller pays the commission.
Is There A Minimum Charge?
The fee is £1,950 + VAT with a minimum.
Buyer’s Premium
Do buyers pay a cost?
Customers are charged an administrative fee of £1,200 plus VAT.
Other Fees For Sellers
Do auctioneers charge admission?
Sellers must pay a £350 + vat entry fee for the auction, which is not refundable in the event the property does not sell.
What About Legal Expenses?
Recall that legal charges can be incurred in addition to the auction fees. Clive Emson Land & Property Auctions do not possess authority over such expenses.
Two parts make up auction legal fees: an initial cost for the legal documents and the final legal fee paid upon conclusion of the sale.
How Does Clive Emson Work?
The procedure of Clive Emson auctions involves bidding.
What Kind Of Auctions Do They Hold?
Clive Emson holds regular online property auctions, occurring approximately every 6 weeks.
At conventional auctions, a non-recoverable 10% down payment is made and contracts are exchanged right away. So buyers must then fulfill the contract within the agreed-upon time frame, which is typically 20 business days.
On Auction Day, What Happens?
The auction will be conducted virtually, allowing you to observe the number of viewers and watch the bidding as it takes place in real-time.
If the property meets the set reserve price, Then the lot will be sold with immediate contracts exchange. The purchaser must pay a 10% deposit straight away and the completion period (normally 20 working days) must be fulfilled.
If Your Property Fails To Sell At Auction, What Will Happen?
If the property does not sell at auction, your agreement will be extended by an extra 4 weeks. So during this period, Clive Emson will attempt to secure a post-auction sale for you.
So you can enter the lot into the next auction without any extra charge. Then If the property remains unsold after the 4 weeks, the contract is voided and you can proceed.
Marketing Your Property With Clive Emson
What methods will Clive Emson employ to promote your property?
Clive Emson will promote your property through their catalogue, Zoopla, OnTheMarket and other property websites and auction portals. Furthermore, you will be provided with a “for sale by auction” sign to display outside the property.
Advertising is done for 2.5 weeks before the auction to guarantee that all potential buyers can see and access your lot.
How Do They Take Property Pictures?
A team representative will come to the location and take pictures.
Will Your Listings Include A Floor Plan And Virtual Tour?
Video tours are included in your listing. Floor plans, however, can be acquired at an extra charge.
Clive Emson Carries Out Viewings In What Manner?
Clive Emson will arrange five 30-minute showings before the auction.
Selling At Clive Emson Auction
What is the worth of your property according to Clive Emson?
A representative from the auction staff will be present at the residence to conduct the appraisal.
Then they will collaborate with you to establish a reserve price that satisfies you; then you can decide if you desire to continue.
Careful selection of an auctioneer is key to getting the best price. Consider the potential timescales and costs that may be involved.
Tempting though it may be to select the auctioneer who gives the most generous guide price. if your property doesn’t manage to sell, then you could be left with legal and auction fees, as well as a still unsold property.
It may be attractive to employ an auctioneer with the lowest fees. But will they be able to draw out the most attention and get the best results for your property?
Clive Emson take pride in offering great value for money, always striving to get the best price for our sellers.
Many are hesitant to sell their property at an auction out of fear of not getting a good return. So Clive Emson will guarantee a reserve price, which is the least amount of money you are willing to accept for the property. This is usually established when the property is put up for sale. This ensures that the reserve price is not set too low or too high, and it will remain confidential.
Clive Emson will also provide you with a guide price for marketing the property, giving interested buyers an indication of the anticipated reserve price range.
Then you must sign up for your property roughly six weeks before the auction to guarantee. it is listed in the catalogue and give the auctioneer sufficient timeframe to promote it.
An experienced auctioneer will promote your property online, through local and national media, as well as distribute the catalogue to prospective purchasers and investors – whilst keeping you informed of the response. Additionally, you’ll need to appoint a solicitor to assist with drafting the sale agreement and related legal documents.
An experienced auctioneer will collaborate closely with your legal representative to guarantee that all the necessary preparations are made for the auction.
What Is The Duration Of The Agreement/Contract With Clive Emson?
The contract is valid until the auction date (typically within 4-6 weeks). If the property does not sell, it will be extended for a further 4 weeks.
Preparing To Buy
People purchase at auctions for many motives; they could be aiming to acquire something quickly, seeking a foreclosed property, a parcel of land to construct on, or simply wanting to purchase without fear of being outbid.
Auction bidders may desire something out of the ordinary, a type of property not typically sold by a real estate agent. Buy-to-let investors also take part in auctions, since they have an extensive selection of investment chances and can buy quickly. Then It does not matter why you are buying at an auction, being prepared is the key to success.
Contact the auction centre before buying to make sure the desired item is still available.
What Do I Need To Bring?
Buyers must show two forms of ID. Read the ‘Protecting you’ guide for more info. You should also bring a copy of the auction catalogue, plus the solicitor’s details and a deposit. If you win, then you will need to pay the deposit and the contract documentation charge when the hammer falls and contracts are exchanged.
It is wise to make sure your building’s insurance begins when the sale is finalized. Additionally In some cases with leasehold properties, this might not be required, but your lawyer can provide guidance.
Your Deposit
Payment can be made by debit card, online transfer or other electronic means. Typically, 10% of the bid price (minimum £2,000) is required as a deposit, but this may change according to the special conditions of sale in the legal pack; so it is essential to check this before bidding.
Bidding
By law, registration and a bidding paddle are required before participating in the auctions. Before the start of the bidding, the auctioneer will ensure that every attendee has a copy of the ‘Addendum or Announcement’ sheet and will communicate any changes to the catalogue information.
Set the highest price you can afford before bidding begins. Potential buyers will raise their hand or bidding paddle to make their offers clear. Don’t worry; you won’t buy a property by mistake by simply scratching your head!
The auctioneer will alert that the final bid is about to be accepted by saying “going for the first time. the second time, the third and then final time” and then striking the gavel to end the auction.
If the reserve price is not met, the property will be withdrawn from the auction. And the auctioneer will invite interested bidders to speak to the seller’s negotiator. An agreement may be reached between the seller and the buyer for a sale to be completed.
If you are the triumphant purchaser, you should inform your lawyer of your acquisition and provide them with the contract you have signed (Clive Emson can forward this to you if you choose).
Your solicitor will coordinate with the vendor’s representative and take care of the last steps before completion. Although 28 days is the usual duration, certain terms of sale can make it happen sooner (or later), so make sure you check the completion date before bidding to avoid being unprepared.
Have the balance of the funds needed for your purchase ready for your solicitor promptly to avoid any penalties. Clive Emson will not be able to grant you the keys to the property until completion has occurred. If you need access to a survey, contact us immediately to see if it can be organized.
Finding The Right Property
Before going to an auction for a property, one must do a great deal of preparation. Make a list of what you desire: such as location, detached/semi-detached, number of bedrooms, cost, parking spaces, etc. Once you have a definite idea of the home you want to buy, start your hunt.
Offers Before The Auction
You can make an offer on a property before the auction which, if it meets the seller’s criteria, will be sent to them for consideration. Generally, to get the offer considered, you must be able to pay the deposit and exchange contracts without delay.
If this is approved, your purchase will proceed, and the property will be taken off the auction only when contracts are exchanged.
Registering For The Online Auctions Clive Emson
Ensure you register with Clive Emson before the online registration deadline. Clive Emson must still adhere to anti-money laundering rules, so as they cannot meet you in person, then they must use online checks to comply with the law.
Please ensure you review the Clive Emson website for instructions on signing up, as your participation is required.
Upon registering with Clive Emson, you will need to complete a payment page. SagePay is used for this process and can place a hold on the funds until the auction is over. Please be aware that this could potentially cause your account to go into overdraft if there is not enough credit available.
The payment section of the registration can be done up to six days before the auction. So don’t fret, Clive Emson will remind you to complete this section if you have registered beforehand.
You may bid on any lot but, if you want to purchase more than one, you will need to make payment while the auction is in progress or complete multiple payment facilities.
If you have queries about registering or the auction in general, then my team can assist – so don’t hesitate to call us or have a look at the guides on the Clive Emson website.
Before The Auction With Clive Emson
Ensure you possess a duplicate of the auction brochure, as this constitutes part of the contractual agreement between you and the vendor.
Examine the legal paperwork, including the Special Conditions of sale, online before the auction and in the auction room on the day of the auction to avoid surprises.
Consult a lawyer regarding the acquisition to sidestep any juridical issues. As with any property you want to buy, arrange a viewing of the property.
Ensure that you have organized a survey. If you are taking out a mortgage to finance the acquisition, this is essential. so If you are paying for the property in cash, you should ensure that it is structurally sound.
If you’re taking out a loan to buy the property, you should have a formal offer secured before attending the auction.
Lastly a deposit, usually 10% of the purchase price, is required and must be paid at the auction after the property has been purchased. In some cases, the deposit may be higher, so take care to review the Special Conditions of Sale.
Jargon Buster
Auction sales may appear to introduce a new lexicon, so here’s a guide to grasping the standard terms and their meanings.
Bid
The bidder’s offer to pay for a property at auction is known as a bid. So the auctioneer usually sets the amount that bids should increase by, but bidders can propose a different amount if they choose.
Bidding Paddle
It is a plastic paddle that must be used to bid live in the auction, given upon registration with a valid ID and address verification.
Completion
Once the total has been remitted and the agreement finalized.
Contract Documentation Charge
The buyer must pay a fee to the auctioneers at the auction.
Deposit
The buyer must pay the entire purchase cost on auction day, usually by cleared funds such as debit card, online transfer or other electronic means.
Entering A Property
Putting a property up for sale at auction is referred to as auctioning.
Exchange Of Contracts
The dropping of the auctioneer’s gavel signals that contracts have been finalized and that both parties are now legally obligated.
Gavel
The auctioneer’s hammer to conclude bidding on a lot.
General/Special Condition Of Sale
These legal documents are appended to and included as part of the sale agreement. So each lot has its special conditions of sale.
Guide Price
The guide price indicates the reserve amount, however, it should not be taken as a precise valuation or assessment of value. Then the final sale price could be higher or lower than the guide price.
Joint Auctioneer
Typically, a local realtor keeps the keys and shows people the building, and supplies regional expertise.
Money Laundering Regulations
Auctioneers in the UK must ensure the identity and residential address of all buyers and sellers at auction are verified via official documentation.
Legal Pack
The sellers’ solicitors’ documents provide legal info regarding the property and the sale/purchase agreement.
Lot
A property put up for auction is known as a lot, which is assigned a lot number.
Proxy Bid
When an auction takes place and the buyer is unable to be present, then the auctioneer or someone from their staff will bid on their behalf, up to a predetermined maximum.
Reserve Price
This figure is kept confidential by the seller and cannot be sold for less than this amount; however, bidding by HoClive Emsonver often begins below the reserve.
Special Conditions Of Sale
These specific conditions of sale of each lot may differ from the general ones.
Telephone Bid
A member of the auctioneer’s team will call a bidder who can’t be present at the auction to bid on their behalf.
Withdrawn
The property has been removed from the sale or failed to meet its reserve price when it is sold before the auction.
These legal documents are linked to and constitute the terms of the sale.